THELOGICALINDIAN - Ethereum amount beneath heavily adjoin the US Dollar and bitcoin ETHUSD is now at a accident of added losses beneath the 100 and 958 abutment levels in the abreast term
Ethereum Price Analysis
After assorted rejections abreast the $107 and $108 attrition levels, ETH amount beneath acutely adjoin the US Dollar. The ETH/USD brace confused and bankrupt the $105 and $103 abutment levels. There was additionally a abutting beneath the $105 akin and the 100 alternate simple affective average. The abatement was aciculate back the amount alike bankrupt the aftermost beat low abreast the $102 level. It opened the doors for a analysis of the 1.236 Fib addendum akin of the aftermost beachcomber from the $103 beat low.
More importantly, there was a breach beneath a aloft bullish trend band with abutment at $105 on the alternate blueprint of ETH/USD. The brace activated the $100 abutment level, area buyers emerged. At the moment, the amount is acclimation college aloft the $101 level. There was a breach aloft the 23.6% Fib retracement akin of the contempo abatement from the $106 aerial to $100 low. However, there are abounding hurdles on the upside abreast the $103, $104 and $105 levels. The 50% Fib retracement akin of the contempo abatement from the $106 aerial to $100 low is additionally abreast the $103 level. Besides, the antecedent abutment abreast the $105 akin ability act as a strong resistance for buyers.
Looking at the chart, ETH amount is acutely beneath a lot of burden beneath the $107 and $105 levels. That’s why there is a accident of added losses beneath the $100 and $98 supports.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is placed acerb in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently in the oversold zone, with no accretion sign.
Major Support Level – $100
Major Resistance Level – $105
